Common use of Creation and Existence Clause in Contracts

Creation and Existence. Borrower is a corporation duly organized, validly existing and in good standing under the laws of the of the State of Delaware and is duly qualified in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. The Guarantors are each a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which they were formed and is duly qualified to do business in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. Borrower and each Guarantor have all corporate power and authority to own their respective properties and assets and to transact the business in which they are engaged.

Creation and Existence. Borrower is a corporation is duly organized, validly existing and in good standing under the laws of the of the State of Delaware and is duly qualified in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. The Each of the Guarantors are each is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which they were it was formed and is duly qualified to do business in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. Borrower and each Guarantor have has all corporate power and authority to own their respective properties and assets and to transact the business in which they are engaged.